Sec Form 4 Filing - BUTTERFIELD STEPHEN F @ NELNET INC - 2018-04-04

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person BUTTERFIELD STEPHEN F 2. Issuer Name and Ticker or Trading Symbol NELNET INC [ NNI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 121 SOUTH 13TH STREET, SUITE 100 3. Date of Earliest Transaction (MM/DD/YY) 04/04/2018 (Street) LINCOLN, NE68508 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class B Common Stock 04/04/2018 G( 1 ) V 16,808 D $ 0 33,617 ( 2 ) I By trust Class B Common Stock 04/04/2018 G( 1 ) V 16,808 A $ 0 16,808 I By adult son Class B Common Stock 04/13/2018 G( 3 ) V 300 D $ 0 33,317 ( 2 ) I By trust Class B Common Stock 04/13/2018 G( 3 ) V 100 A $ 0 100 I By adult son as UTMA custodian for granddaughter Class B Common Stock 04/13/2018 G( 3 ) V 100 A $ 0 100 I By adult son as UTMA custodian for grandson Class B Common Stock 04/13/2018 G( 3 ) V 100 A $ 0 100 I By adult son as UTMA custodian for grandson Class B Common Stock 04/13/2018 G( 4 ) V 100 D $ 0 50,325 ( 5 ) I By trust Class B Common Stock 04/13/2018 G( 4 ) V 100 A $ 0 100 I By adult son Class B Common Stock 04/13/2018 G( 6 ) V 100 D $ 0 50,325 ( 7 ) I By trust Class B Common Stock 04/13/2018 G( 6 ) V 100 A $ 0 100 I By adult son Class B Common Stock 04/13/2018 G( 8 ) V 100 D $ 0 50,325 ( 9 ) I By trust Class B Common Stock 04/13/2018 G( 8 ) V 100 A $ 0 100 I By spouse as UTMA custodian for daughter Class B Common Stock 04/13/2018 G( 10 ) V 100 D $ 0 50,325 ( 11 ) I By trust Class B Common Stock 04/13/2018 G( 10 ) V 100 A $ 0 100 I By spouse as UTMA custodian for son Class B Common Stock 881,077 ( 12 ) D Class B Common Stock 70,586 I By spouse Class B Common Stock 76,521 ( 13 ) I By GRAT Class B Common Stock 88,385 ( 14 ) I By GRAT Class B Common Stock 82,947 ( 15 ) I By GRAT Class B Common Stock 95,787 ( 16 ) I By GRAT Class B Common Stock 82,947 ( 17 ) I By GRAT Class B Common Stock 95,787 ( 18 ) I By GRAT Class B Common Stock 99,259 ( 19 ) I By GRAT Class B Common Stock 76,521 ( 20 ) I By GRAT Class B Common Stock 88,385 ( 21 ) I By GRAT Class B Common Stock 92,327 ( 22 ) I By GRAT Class B Common Stock 94,288 ( 23 ) I By GRAT Class B Common Stock 100,000 ( 24 ) I By GRAT Class B Common Stock 1,586,691 ( 25 ) I By corporation Class B Common Stock 61,941 ( 26 ) I By CLAT

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BUTTERFIELD STEPHEN F 121 SOUTH 13TH STREET SUITE 100 LINCOLN, NE68508 X X Signatures /s/ Audra Hoffschneider, Attorney-in-Fact for Stephen F. Butterfield 12/13/2018 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On April 4, 2018, a trust of which an adult son of the reporting person is the beneficiary distributed 16,808 shares to such adult son of the reporting person. ( 2 )Shares held by a trust, of which an adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 3 )On April 13, 2018, a trust of which an adult son of the reporting person is the beneficiary distributed a total of 300 shares to such adult son as custodian under the Uniform Transfers to Minors Act for the granddaughter and two grandsons of the reporting person, in increments of 100 shares for each of the granddaughter and the two grandsons. ( 4 )On April 13, 2018, a trust of which another adult son of the reporting person is the beneficiary distributed 100 shares to such adult son of the reporting person. ( 5 )Shares held by a trust, of which another adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 6 )On April 13, 2018, a trust of which another adult son of the reporting person is the beneficiary distributed 100 shares to such adult son of the reporting person. ( 7 )Shares held by a trust, of which another adult son of the reporting person is the beneficiary. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 8 )On April 13, 2018, a trust of which the daughter of the reporting person is the beneficiary distributed 100 shares to the reporting person's spouse as custodian under the Uniform Transfers to Minors Act for such daughter of the reporting person. ( 9 )Shares held by a trust, of which the daughter of the reporting person is the beneficiary. ( 10 )On April 13, 2018, a trust of which another son of the reporting person is the beneficiary distributed 100 shares to the reporting person's spouse as custodian under the Uniform Transfers to Minors Act for such son of the reporting person. ( 11 )Shares held by a trust, of which another son of the reporting person is the beneficiary. ( 12 )Includes 135,332 shares held by the Stephen F. Butterfield Revocable Living Trust, the agreement for which was revocable by the reporting person while he was living. As noted in the Remarks below, the reporting person passed away on April 16, 2018. ( 13 )Shares held by a grantor retained annuity trust ("GRAT") dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 14 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 15 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 16 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 17 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest there in. ( 18 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 19 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 20 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 21 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 22 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 23 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 24 )Shares held by a separate GRAT dated December 18, 2015. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein. ( 25 )Shares held by Union Financial Services, Inc. ("UFS"), of which the reporting person was a director and president and owned 50.0% of the outstanding capital stock. The reporting person reported beneficial ownership of all the shares held by UFS, but disclaimed beneficial ownership of the shares held by UFS except to the extent of his pecuniary interest therein. ( 26 )Shares held by a charitable lead annuity trust ("CLAT") established by the reporting person, of which CLAT the descendants of the reporting person are remainder beneficiaries. The reporting person reported beneficial ownership of all the shares held by the trust, but disclaimed beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.

Remarks: The reporting person passed away on April 16, 2018.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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